Fpa Flexible Correlations

FFIAX Fund

USD 10.14 0.02 0.20%

The current 90-days correlation between Fpa Flexible Fixed and Pimco Corporate Income is -0.05 (i.e., Good diversification). The correlation of Fpa Flexible is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Fpa Flexible Correlation With Market

Significant diversification

The correlation between Fpa Flexible Fixed and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fpa Flexible Fixed and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fpa Flexible Fixed. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Fpa Mutual Fund

0.96	FPFIX	Fpa Flexible Fixed	Pair Corr
1.0	FPNRX	Fpa New Income	Pair Corr
1.0	FPNIX	Fpa New Income	Pair Corr
0.84	BSIKX	Blackrock Strategic	Pair Corr
0.91	BSICX	Blackrock Strategic Opps	Pair Corr
0.88	BASIX	Blackrock Strategic Opps	Pair Corr
0.84	BSIIX	Blackrock Strategic	Pair Corr
0.94	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.78	BRUFX	Bruce Fund Bruce	Pair Corr
0.73	NVG	Nuveen Amt Free	Pair Corr

Moving against Fpa Mutual Fund

0.56	QRSAX	Fpa Queens Road	Pair Corr
0.56	QRSIX	Fpa Queens Road	Pair Corr
0.56	QRSVX	Queens Road Small	Pair Corr
0.47	PTY	Pimco Corporate Income	Pair Corr
0.47	FPACX	Fpa Crescent	Pair Corr
0.47	FPCSX	Fpa Crescent	Pair Corr
0.45	JSOAX	Jpmorgan Strategic Income	Pair Corr
0.44	JSORX	Jpmorgan Strategic Income	Pair Corr
0.43	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.43	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.4	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.79	XGEIX	Guggenheim Energy Income	Pair Corr
0.55	VITAX	Vanguard Information	Pair Corr
0.52	TFGRX	Touchstone Mid Cap	Pair Corr
0.52	WMPXX	Wells Fargo Funds	Pair Corr
0.51	SPGSX	State Street Premier	Pair Corr
0.47	VFIAX	Vanguard 500 Index	Pair Corr
0.47	VFINX	Vanguard 500 Index	Pair Corr
0.46	LVOAX	Lord Abbett Value	Pair Corr
0.4	LLPFX	Longleaf Partners	Pair Corr
0.39	GRHAX	Goehring Rozencwajg	Pair Corr
0.38	PMBPX	Midcap Fund R	Pair Corr
0.36	FFICX	Investment Of America	Pair Corr

Related Correlations Analysis

	PTY	FFIAX	QRSAX	QRSVX	QRVLX	FPACX	FPCSX	FPFIX	FPNRX	FPNIX
PTY		-0.47	0.79	0.79	0.84	0.88	0.88	-0.49	-0.48	-0.47	PTY
FFIAX	-0.47		-0.56	-0.56	-0.14	-0.47	-0.47	0.96	1.0	1.0	FFIAX
QRSAX	0.79	-0.56		0.94	0.74	0.83	0.83	-0.57	-0.58	-0.57	QRSAX
QRSVX	0.79	-0.56	0.94		0.8	0.9	0.9	-0.58	-0.58	-0.57	QRSVX
QRVLX	0.84	-0.14	0.74	0.8		0.87	0.87	-0.18	-0.16	-0.14	QRVLX
FPACX	0.88	-0.47	0.83	0.9	0.87		1.0	-0.51	-0.49	-0.47	FPACX
FPCSX	0.88	-0.47	0.83	0.9	0.87	1.0		-0.51	-0.49	-0.47	FPCSX
FPFIX	-0.49	0.96	-0.57	-0.58	-0.18	-0.51	-0.51		0.96	0.96	FPFIX
FPNRX	-0.48	1.0	-0.58	-0.58	-0.16	-0.49	-0.49	0.96		0.99	FPNRX
FPNIX	-0.47	1.0	-0.57	-0.57	-0.14	-0.47	-0.47	0.96	0.99		FPNIX
	PTY	FFIAX	QRSAX	QRSVX	QRVLX	FPACX	FPCSX	FPFIX	FPNRX	FPNIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FPNRX	+ 1.0	FFIAX
FPNIX	+ 1.0	FFIAX
FPCSX	+ 1.0	FPACX
FPNIX	+ 0.99	FPNRX
FPFIX	+ 0.96	FFIAX
FPNRX	+ 0.96	FPFIX

High negative correlations

FPNRX	- 0.58	QRSVX
FPFIX	- 0.58	QRSVX
FPNRX	- 0.58	QRSAX
FPNIX	- 0.57	QRSVX
FPNIX	- 0.57	QRSAX
FPFIX	- 0.57	QRSAX

Risk-Adjusted Indicators

There is a big difference between Fpa Mutual Fund performing well and Fpa Flexible Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Fpa Flexible's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PTY	0.16	0.06	(0.05)	3.36	0.00	(0.22)	0.50	(0.21)	1.26
FFIAX	0.12	(0.01)	(0.41)	(0.56)	0.17	(0.15)	0.20	(0.29)	0.88
QRSAX	0.77	0.11	0.03	(9.65)	0.74	(0.88)	1.87	(1.28)	6.37
QRSVX	0.76	0.00	0.02	0.08	0.73	(0.89)	1.89	(1.28)	6.35
QRVLX	0.58	0.01	0.00	0.09	0.48	(0.72)	1.19	(0.94)	4.15
FPACX	0.42	(0.01)	(0.08)	0.06	0.49	(0.43)	0.99	(0.73)	2.38
FPCSX	0.42	(0.01)	(0.08)	0.06	0.49	(0.43)	0.99	(0.72)	2.38
FPFIX	0.12	(0.01)	(0.42)	0.36	0.15	(0.14)	0.20	(0.20)	0.88
FPNRX	0.12	(0.01)	0.00	(0.51)	0.00	0.00	0.20	(0.30)	0.90
FPNIX	0.13	(0.01)	(0.44)	(0.61)	0.16	(0.16)	0.20	(0.30)	0.81

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